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Proof of Work

Hyundai’s Token Company Partners With CasperLabs to Build a PoS Blockchain

HDAC Technology, a blockchain company backed by automaker Hyundai, announced a partnership with blockchain startup CasperLabs to build and integrate a customized Proof-of-Stake (PoS) consensus protocol. The companies signed a memorandum of understanding (MOU) on June 28, a small initial step toward further cooperation. HDAC, issuer of the Hyundai-DAC token, is reportedly looking to switch from its …

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Ethereum 2.0’s Phase Zero Scheduled to Launch on January 3, 2020: Devs

The first stage of the Ethereum network’s transition to Ethereum 2.0 is expected to take place on January 3, 2020, as said in a bi-weekly call of Ethereum core developers on June 13. During the call, Ethereum researcher Justin Drake said that the dev team is working on code specifications for phase zero, confirming that …

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Cypherpunk Adam Back Speaks of Blockchain Benefits at G20 Meeting of Finance Ministers

Adam Back, who invented the hashcash proof-of-work system and was one of the first people to work on bitcoin (BTC), spoke about the positive uses of blockchain at G20. Cointelegraph Japan reported on Back’s comments at a meeting of finance ministers and central bank governors in Japan on June 8. Sitting next to the governor of the …

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Neo Announces New Consensus Mechanism For Its New Mainnet

Chinese-based blockchain platform Neo has implemented a new iteration of its consensus algorithm, the Byzantine Fault Tolerance mechanism (dBFT 2.0), on its mainnet, according to a press release on June 4. The new algorithm purportedly provides immediate transaction finality. dBFT 2.0 includes a new procedure for reintegrating failed nodes back into the network, and also …

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Two Miners Purportedly Execute 51% Attack on Bitcoin Cash Blockchain

Two miners have reportedly executed a 51% attack on the bitcoin cash (BCH) blockchain, according to tweets by Cryptoconomy Podcast host Guy Swann on May 24. A 51% attack occurs when someone controls the majority of mining power on a Proof-of-Work blockchain network. This means that the majority block verifier can prevent other users from …

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Amazon Wins Patent for Proof-of-Work Cryptographic System

Tech giant Amazon has been granted a patent for various techniques to build a proof-of-work (PoW) cryptographic system similar to those used by blockchains such as bitcoin. First filed in December 2016 and awarded Tuesday by the U.S. Patent and Trademark Office (USPTO), the patent outlines how Merkle trees can be generated as a solution …

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Phase Zero Code for Ethereum PoS Transition Can Be Completed by June 30: ETH Core Devs

A code for the Ethereum (ETH) blockchain’s first-stage transition to a proof-of-stake (PoS) consensus algorithm could be completed by June 30, as stated in an Ethereum core developers meeting on May 2. In a bi-weekly call, Ethereum researcher Justin Drake claimed that the developers team expects to prepare code specifications for phase zero by the …

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Ethereum Core Devs: Funding for ProgPoW 3rd-Party Audit Approved

Ethereum (ETH) core developer Hudson Jameson announced that a third-party audit of the Application Specific Integrated Circuit (ASIC)-resistant proof-of-work algorithm ProgPoW has been funded. The dev made the announcement during the latest bi-weekly Ethereum core developer meeting held on April 26. During the call, it was specified that the targeted funding amount of 50,000 units …

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“Bitcoin and Friends” Animated Series Airs Spicy First Episode

<header class=”article__header”> </header> <strong>There’s a new animated series called “Bitcoin and Friends” that’s been making its rounds across the web after the first episode was released by Uncle Chris Productions. The humorous and sometimes raunchy cartoon is an eight-part series that aims to make people laugh during the depressing bear market and the crypto saltiness …

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Validators Create New Attack Vectors for Decentralized Systems

Pascal Thellman is CMO at Bounty0x, a simple service for earning crypto, and an advisor at PolyGrowth, a crypto PR firm. — As proof-of-stake (PoS) networks gear up in an effort to compete with proof-of-work (PoW) blockchains, significant attention has been placed on their validator mechanisms and incentive structures for maintaining valid consensus. In particular, …

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